Learn More about CDFI's and Small Business Resources in Tennessee see here
While the federal government does not provide grants for starting or growing small businesses, one of the mechanisms in place to promote small business growth and economic development is the Community Development Financial Institution Fund managed by the US Department of the Treasury.
Community Development Financial Institutions fall into four categories:
Affordable Housing Resources, Inc.
Appalachian Fund for Growth II, LLC
Chattanooga Neighborhood Enterprise, Inc.
Church Koinonia Federal Credit Union
First State Development Corp.
Nashville Housing Fund, Inc.
Pinnacle Community Development, Inc.
TMA Development Corporation
United Housing, Inc.
The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee.
The Recovery Capital Loans Program provides financial assistance to small business with less than 500 employees to obtain a deferred payment loan from the agency, in order to meet existing debt payments, thereby giving the business the opportunity to refocus their business strategy.